With your level of income, perhaps you are using the negative geared properties at this time to reduce the tax payable and looking for long term capital growth for when you are no longer earning big $?

maybe ask yourself some questions to figure out the path best for you:

1) can you comfortably support the two current -ve geared properties?
2)…[Read more]

I’d be in agreement with the second option as well…

For the first option:(quoting from ATO website) The cost base and reduced cost base of a property includes the amount you paid for it together with certain incidental costs associated with acquiring, holding and disposing of it (for example, legal fees, stamp duty and real estate agent’s…[Read more]

Thanks everyone for your comments. I’m in Perth…

I have booked him in to do a small job, he said 2-3 hours, next week and will see how that goes. In the mean time I’ll get another sparky or two to quote for the rewire.

I’d be happy using him if there was a fixed maximum ceiling price that I know it wont go over… but I really do feel there…[Read more]

have an informal chat with your council, just don't give the address. Ask about their requirements for granny flats or similar. It will need to meet various building codes in terms of ceiling height, waterproofing, ventilation, insulation and some other factors, all part of "doing up" the shed. if you're planning to lease to someone through an…[Read more]

in an education program i'm participating in, they like to keep things simple and say that time input and money input shoudl be considered equal, and therefore if 1 person is putting in 100% of the time and the other 100% of the money then profits split 50:50. This is regardless of level of experience… You could however work a budget into your…[Read more]

http://www.ato.gov.au/individuals/content.aspx?doc=/content/00183233.htm&pc=001/002/002/013/003&mnu=&mfp=&st=&cy=1 Can you claim the cost of repairs you make before you rent out the property?You cannot claim the cost of repairing defects, damage or deterioration that existed when you obtained the property, even if you carried out these repairs to…[Read more]

in order to claim money back on renovations, it must have been rented out previously ie held for an income-producing reason.

So any repairs/renos done between you moving out and a tenant moving in can not be claimed

Also there’s a difference between repairs and capital improvements, repairs can be claimed and improvements can be depreciated over…[Read more]

Hi Jane, Thanks for your comments. Will be returning to the property next week armed with your reno checklist for a very thorough list of what we're doing!Appreciate all your comments, but just questioning (c) about the blinds – do you mean to install these externally as fixed slats, like louvres? or do you mean inside the room as window…[Read more]

EM1010 wrote:
Hi Emma,I have a copy of the R-Codes for Western Australia.  Unfortunately can not manage to attache file here.  Can send to an email address if you want. Big document Thanks

Thanks! I sent u a PM with my email address, appreciate your reply.

I liked Terry’s suggestion, take the $395 off right now, thank them, and then wait and see what happens with interest rates. come February or so, call them back and show some comparison rates and try to then get a 0.1% discount later…

using an online interest only mortgage repayment calculator, I used the following figures:

loan = $420000
term…[Read more]

oops, missed this post…

the offer has gone unconditional and now in the process of getting quotes etc. no further progress yet on idea of adding shower/vanity to existing laundry, waiting to get the plans off council and analyse. not sure if i can get it to come in under the budget price if i do add the second bathroom, but if it appears to…[Read more]

u going next wed on the 23rd? did u see APN has combined with propertymeeting.com.au ?

Marie – nope not yet, am taking a momentary pause on this development deal excitement as got to get a move on with another few things first as top priority and there’s no time ticking for the other block. have had a great discussion with a development mentor/coach and am armed (and possibly dangerous) with a list of questions in all the right…[Read more]

you mention you have $30k deposit WITH the FHOG, but you say you want to start with investment property…

just to clarify, as you have not owned property before you may be eligible for the FHOG but only if you live in the property for at least 6 months. you can always have someone else rent a room in the property to help income, but you need to…[Read more]

Hi Tomatoz,

As far as I am aware, the important thing about the relationship status is that you are classed as single at the time of makingthe FHOG claim and at settlement of the property. If you get married months afterwards it should not affect your entitlement to claim…

My hubby got permanent residency in March 2010, so got everything ready…[Read more]

hey thecrest, the house has suffered a fire… so i guess the REA didn’t want to show it in exact current state. Is a bit misleading the ad. Already secured an offer 20% below listed price so quite happy with the price and opportunity. have been there a few times already so i know exactly how its currently looking, guess i was just interested…[Read more]

thanks, appreciate the comments

Not sure about a front fence, not many on the street have them and a bit worried about cost, so will just landscape instead. As mentioned the photo shown is old and does not reflect current state…

will definitely get roof cleaned at least, unsure if sprayed or not, but good pressure clean will brighten…[Read more]

Thanks both for your comments!

I was recommended a local cabinet maker by another user on this forum. He did the kitchen + laundry for me for $4300, all custom made and installed, including soft-close drawers, gloss finish… very happy with the price and work.

for anyone that posted here and might be interested… the full apartment renovation is complete. photos are here: https://picasaweb.google.com/104946543548564263477/EastPerthApartmentRenovation?authuser=0&feat=directlink

Hey MrsC, I’m in WA too – knew u were over west from another post of yours… is this house listed as expressions of interest then, rather than the usual offer and acceptance? that changes things…

for the standard residential sale over here, you write up an offer and its presented. But its becoming more common for different sales tactics, such…[Read more]